Friday, November 28, 2008
Destiny Media Update
Destiny Media Technologies (OTC BB: DSNY.OB), an Aaron Edelheit pick, closed up about 56% today, on more than three times average volume, with no news released. The most recent news from the company was this November 4th press release: "Universal Music Australia Chooses Play MPE® To Digitally Deliver Pre-release Music".
The image above is of an ad for Destiny Media's Play MPE® secure media delivery system.
Update -- Destiny Media announced its year-end results just after midnight: "Destiny Media Announces Record Year End Results". Revenues up 80% year-over-year, and up 33% sequentially; net loss dropped 56% over previous quarter; profits anticipated "imminently1"
1As we noted in an earlier post, last quarter the company predicted it would be profitable in its fiscal first quarter, i.e., its next quarter. We'll see in a few months.